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Cambodia predicts 7-pct economic growth in 2017

Xinhua, January 23, 2017 Adjust font size:

Cambodia is expected to see a 7-percent economic growth in 2017, the same rate as the country achieved last year, Economy and Finance Ministry officials said on Monday.

"We project the growth of 7 percent in 2017 and in the medium term," Economy and Finance Ministry Secretary of State Vong Seyvisoth said in the 2017 Cambodia Outlook Conference.

According to a ministry's report, with the expected 7-percent growth, the kingdom's Gross Domestic Product (GDP) would reach nearly 22 billion U.S. dollars this year, as the GDP per capita is forecast to reach 1,422 U.S. dollars.

The Southeast Asian nation's economic growth is mainly driven by garment export, construction, tourism, and agriculture.

Chheang Vannarith, director of the ministry's macroeconomic and fiscal policy department, said the industrial sector, mainly garment and construction, is projected to increase by 10.66 percent this year, while service sector, including tourism, transportation, trade, and real estate, is forecast to enjoy a 6.29-percent rise.

He said that agriculture is expected to see a 1.96- percent growth this year.

The country's inflation is projected to stand below 5 percent in 2017, he added. Enditem